Not sure why I stopped, maybe it was the approach of spring.
It might have been because I realised that writing a diary of my trades wasn’t working. But neither has anything else. I’m still trading, and I’ve worked out that I would be successful if I cut out the stupid trades, and took profits earlier. Which sounds a bit “well, duh” and it is.
But trading is the hardest thing I’ve ever done, as well as the thing I’ve most wanted to succeed at (apart from relationships). Partly that desire to succeed drives the bad trades. As well as impatience. I’ll sit down, tired, probably grumpy and think fuck it, that’ll work. It doesn’t. Also, when I’ve had some losing trades and by necessity I work on tight margins (well, not true, I trade on tight margins because I try to trade at a size that will have an emotional as well as financial impact, using the 10% account size with one broker theory.) Which is fine until you start getting to the point where you margin gets to only being able to have one trade on at a time, at which point I get frustrated, really want to get my account size back up, then blow it instead. Pffft.
So today I went back to demo trading, on Darwinex, which is the broker I’d like to use, (but they need a 500 min deposit) Obviously, the days been a success. Big stops where appropriate, moving stops where appropriate, I started with 1000 and I’m up 8%.
1. Is it because it’s demo?
2. Is it because it’s Darwinex?
3. Is it because the trades fifty said I got on?
4. Is it because I’ve got a bigger margin, so feel more comfortable?
5. Is it because it’s MT4, which I’m more comfortable with then the web interface of Core Spreads?
Also, other issues:
1. I still have an uncanny ability to pick the bottom/top of a range, when a pair is consolidating. Which is FOMO. I just squeezed out a 0.1R on a Kiwi trade, after being down about a lot.
Today I’ve traded with the daily bias, (or in golds case, what what should have been the daily bias), I’ve marked up channels on TF’s and Fibs down to 5M, and it’s worked. Loved the snappyness of darwinex, loved being able to move sl’s around quicky.
Biggest loser was a Cable trade where stop was too close, still big but trade went in right direction eventually. Not even sure the stop wasn’t in the right place.
Biggest winner was a USDCAD that did a belter. When CAD is trending, it trends very nicely. Fibs on 5M chart hit lovely.